Financier spoke about paying tax on interest on deposits

In 2024, Russians will for the first time pay tax on interest on deposits. This was announced on November 23 by Elman Mehdiyev, the founder of the Kredchek service.

According to him, the tax on deposits for 2023 must be paid by December 1, 2024. It is calculated in respect of interest income received from any accounts regardless of the currency of the account.

"Interest paid on deposits, savings accounts, current account balances are considered such income. Interest income up to 150 thousand rubles is not included in taxable income," he said in a conversation with the agency "Prime".

In case of exceeding the threshold of 150 thousand rubles will have to pay tax based on the total amount of income of an individual.

"If the total amount of such income (salary, bonuses, income under civil law contracts, interest income, etc.) is less than Br5 million, the tax will be 13%, and over Br5 million - 15% on the amount of the excess," he explained.

The expert noted that if all deposits and accounts are registered in Russian banks, there is no need to submit a separate declaration on deposits. However, if there are accounts in foreign financial companies, it is necessary to submit a declaration of cash flow on such accounts, including interest income. Then in due time in the personal account of an individual in the Federal Tax Service (FTS) will automatically appear a notice of the amount of payment.

Earlier, November 14, economist Mikhail Belyaev called bank deposits the best way to store money for Russians. He noted such advantages of deposits as high interest rates and insured amounts up to 1.4 million. According to him, if the amount is higher, one can think about distributing funds among several banks.

On September 17, the Federal Tax Service began sending out notices on the need to pay the accrued tax on deposits for 2023. The 13% tax is imposed on income that exceeded the established limit of 150 thousand rubles. As Izvestia found out, in the future, due to the increase in the Central Bank rate, income on deposits over 190 thousand rubles will be subject to tax.